Exhibit 99.1

Sabine Royalty Trust

SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR AUGUST

     Dallas, Texas, August 3, 2007 — Bank of America, N.A., Dallas, Texas, as Trustee of the Sabine Royalty Trust (NYSE — SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.39044 per unit, payable on August 29, 2007, to unit holders of record on August 15, 2007.

     This distribution reflects primarily the oil production for May 2007 and the gas production for April 2007. Preliminary production volumes are approximately 48,667 barrels of oil and 536,291 mcf of gas. Preliminary prices are approximately $55.66 per barrel of oil and $6.77 per mcf of gas. The table below compares this month’s production and prices to the previous month’s:

	Net to Trust Sales
	Volumes				Average Price
	Oil		Gas		Oil		Gas
	(Bbls)		(Mcf)		(per Bbl)		(per Mcf)
Current Month		48,667		536,291	$	55.66	$	6.77
Prior Month		34,967		510,994	$	57.42	$	6.92

     Due to the timing of the end of the month of July, approximately $291,000 of revenue received will be posted in the following month of August in addition to normal receipts during August. Revenues are only posted and distributed when they are received. Most energy companies normally issue payment of royalties on or about the 25^th of every month, and depending on mail delivery, a varying amount of royalties are not received until after the revenue posting on the last business day of the month. The revenues received after that date will be

posted within 30 days of receipt. Since the close of business in July and prior to this press release, approximately $329,000 in revenue has been received.

     For additional information, including the latest financial reports on Sabine Royalty Trust, please visit our website at http://www.sbr-sabineroyalty.com/.

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Contact:  Ron E. Hooper
Senior Vice President
Bank of America, N.A.
Toll Free — 800.365.6541